Oaktree Capital Management LP has initiated a lawsuit against BJ’s Wholesale Club Inc. in New York, claiming that BJ's violated a binding agreement to sell its rights to $29 million in tariff refunds for 70 cents on the dollar. The suit, filed on Monday, accuses BJ's of 'unlawful and bad-faith seller’s remorse' after the market value of the tariff claims increased. Oaktree asserts that a final agreement was reached on March 13, where they would pay BJ's $20 million for the tariff claim. However, BJ's in-house lawyer later informed Oaktree that the company was exercising a 'Walk Away' provision, which Oaktree argues was not intended to be a unilateral cancellation option. This legal battle underscores the rising value of tariff refund claims, particularly following a February ruling by the US Supreme Court that invalidated many of former President Donald Trump’s global trade tariffs. The ruling has led to a scramble for refunds, with Customs and Border Protection recently launching an online portal for importers to seek refunds on approximately $166 billion in tariffs. Refunds could start being issued to thousands of importers in the upcoming months.